2023 ICT Mentorship - ES Session Review: February 15

ICTShark · October 22, 2024, 10:54pm

Notes

New Day Opening Gap (NDOG) refers to the difference between the 5 p.m. closing and the 6 p.m. opening price (New York time).
While the NDOG may sometimes involve a significant visual change, it could also be minimal, like the one-tick difference.
Michael trades pre-market when news drivers (medium- or high-impact news events) are expected to cause market difficulty later in the day.
The trading window from 7 a.m. to 8:30 a.m. is preferred, where there is a chance to enter a trade before 8:30 AM, after which the news often moves the market.
If Michael likes the market structure that’s in play at 7:00 a.m. going into 8:30 a.m., he has no fear of getting in a trade and using the 8:30 a.m. hour to roll right into his targets.
Risk-off scenario: If the US dollar’s value rises, foreign currencies will fall, and all other asset classes are likely to fall as well.
Risk-on scenario: If the US dollar’s value falls, foreign currencies will rise, and all other asset classes are likely to rise as well.
A buy program is not a Market Maker Buy Model (MMBM). The buy program is when the algorithm starts going into buy-side delivery, meaning it will keep booking prices higher and higher, and it will do this even on low volume.
Change In the State of Delivery (CISD) determines whether we mark a single candle or a sequence of candles as an Order Block.